Pictet Asset Management Holding SA Increases Holdings in RLX Technology Inc. Sponsored ADR $RLX

Pictet Asset Management Holding SA lifted its holdings in shares of RLX Technology Inc. Sponsored ADR (NYSE:RLX) by 1,517.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,752,344 shares of the company’s stock after purchasing an additional 3,520,377 shares during the period. Pictet Asset Management Holding SA’s holdings in RLX Technology were worth $8,255,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Marshall Wace LLP increased its holdings in RLX Technology by 29.3% during the second quarter. Marshall Wace LLP now owns 1,133,093 shares of the company’s stock worth $2,504,000 after buying an additional 257,103 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in RLX Technology by 53.7% in the second quarter. Canada Pension Plan Investment Board now owns 3,804,284 shares of the company’s stock valued at $8,407,000 after acquiring an additional 1,329,500 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in RLX Technology by 308.2% in the second quarter. Tower Research Capital LLC TRC now owns 54,064 shares of the company’s stock valued at $119,000 after acquiring an additional 40,819 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of RLX Technology by 11,091.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 808,589 shares of the company’s stock valued at $2,127,000 after acquiring an additional 801,364 shares during the period. Finally, Cresset Asset Management LLC bought a new position in shares of RLX Technology during the 3rd quarter valued at approximately $66,000. 22.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Weiss Ratings restated a “hold (c)” rating on shares of RLX Technology in a research note on Tuesday, April 21st. Citigroup reduced their price objective on RLX Technology from $2.60 to $2.50 and set a “neutral” rating for the company in a report on Monday, March 16th. Finally, Wall Street Zen raised RLX Technology from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $2.50.

RLX Technology Stock Performance

Shares of RLX Technology stock opened at $1.93 on Friday. The stock has a market capitalization of $2.98 billion, a P/E ratio of 19.25 and a beta of 1.16. RLX Technology Inc. Sponsored ADR has a 52-week low of $1.76 and a 52-week high of $2.84. The stock’s 50-day simple moving average is $2.04 and its 200 day simple moving average is $2.20.

RLX Technology (NYSE:RLX) last issued its earnings results on Wednesday, May 20th. The company reported $0.03 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.03. The firm had revenue of $230.01 million during the quarter, compared to analyst estimates of $166.99 million. RLX Technology had a net margin of 20.76% and a return on equity of 6.15%.

RLX Technology Company Profile

RLX Technology Inc (NYSE:RLX) is a China-based company specializing in electronic nicotine delivery systems. The company develops, manufactures and markets closed-pod vaping devices and prefilled cartridges, positioning its products as an alternative to traditional combustible tobacco. RLX emphasizes consistent nicotine delivery, flavor variety and convenience through its proprietary e-liquid formulations and device design.

RLX operates a vertically integrated business model that encompasses research and development, production, quality control and sales.